Homework Answers
Adjustment related to cash balances required journal entries.
in given case, Checks outstanding, Deposit in transit are the adjustment related to bank balance.
we have to make adjustment entries for Bank service charges, note collection, error in recordings.
So, answer will be: C
You can reach me over comment box, if you have any doubts.
Please rate this answer
Add Answer to:
Question 6 (5 points) Which item(s) will require a journal entry to update the balance in...
Which of the following items will require an adjusting journal entry on a company's books? Multiple...
Which of the following items will require an adjusting journal entry on a company's books? Multiple Choice EFT received from a customer Error made by the bank Deposits in transit Outstanding checks
The September 30 bank statement for Bennett Company and the September ledger accounts for cash are...
The September 30 bank statement for Bennett Company and the September ledger accounts for cash are summarized here: Deposits $26,700 BANK STATEMENT Checks Balance, September 1 Deposits recorded during September Checks cleared during September $27,000 NSF checks-Betty Brown Bank service charges 53 Balance, September 30 Balance $ 6,650 33, 350 6,350 6,240 6,187 6,187 110 Sept. 1 Balance Sept. Deposits Cash (A) 6,650 Sept. Checks written 29,050 29,650 No outstanding checks and no deposits in transit were carried over from...
QUESTION 45 1 points Save Answer Andy, Inc. was in the process of reconciling its bank...
QUESTION 45 1 points Save Answer Andy, Inc. was in the process of reconciling its bank balance with the company records and found an unadjusted book balance of $17,120, outstanding checks of $2,065, non-sufficient funds (NSF) checks of $508, deposits in transit of $1,650, bank service charges of $75, a customer note collected by the bank of $3,000 and interest on the note collected of $40. The adjusted book balance on the bank reconciliation should be? (Do not enter dollar...
Outstanding checks haven't been presented to the bank for payment but have been subtracted in the...
Outstanding checks haven't been presented to the bank for payment but have been subtracted in the checkbook. have been subtracted on the bank records but not the checkbook records. have been returned to the business for nonpayment. haven't been presented to the bank for payment and haven't been subtracted from the checkbook. Question 2 (5 points) Using the following information, calculate the adjusted cash balance at the end of April. $2.000 Bank statement ending cash balance General ledger cash balance...
Proect Powerpons Google Sides Inbox mohamedyhassensgma.co Group Project Acct 202 Googie Dots Question 4 0.5 pts...
Proect Powerpons Google Sides Inbox mohamedyhassensgma.co Group Project Acct 202 Googie Dots Question 4 0.5 pts After completing a bank reconciliation, you are preparing journal entries to agree the firm's Cash account balance with the reconciled balance shown on the reconciliation. Which of the following requires a journal entry? Deposits in transit at the end of the period None of the above Outstanding checks at the end of the period An error by the bank in recording one of the...
Cornerstone Exercise 4-20 Bank Reconciliation Tiny Corp. prepares monthly bank reconciliations of its checking account balance....
Cornerstone Exercise 4-20 Bank Reconciliation Tiny Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement indicated the following: Balance, beginning of the month $15,640 Service charge for October Interest earned during October 80 NSF check from Green Corp. (deposited by Tiny) for goods 615 purchased on account Note ($2,500) and interest ($75) collected for Tiny from a 2,575 customer An analysis of canceled checks and deposits and the records of Tiny revealed the following items: Checking...
1. Which one which one of the following items would NOT be considered cash a. Coins...
1. Which one which one of the following items would NOT be considered cash a. Coins b. Money orders e. Currency d. Postdated checks 2. A bank statement: a shows the activities that increased or decreased the depositor's account balance b. is a credit reference letter written by the depositor's bank. is a bill from the bank for services rendered. d lets a depositor know the financial position of the bank as of a certain date. 3. A NSF check...
Exercise 7-25 Novak Company has just received the August 31, 2017, bank statement, which is summarized...
Exercise 7-25 Novak Company has just received the August 31, 2017, bank statement, which is summarized below. Disbursements Receipts Balance County National Bank Balance, August 1 $15.215 Deposits during August $52,293 67,508 Note collected for depositor, including $65 interest 1,689 69,197 Checks cleared during August $56,028 13,169 Bank service charges 32 13,137 Balance, August 31 13,137 The general ledger Cash account contained the following entries for the month of August. Cash 16,321 Disbursements in August 56,840 Balance, August 1 56,694...
account - journal entry required 2 Bank service charge. 2. Decrease in the general ledger cash...
account - journal entry required 2 Bank service charge. 2. Decrease in the general ledger cash account - journal entry required The bank made an error Cheque#568 for $4800 was inadvertently processed as $8,400. The bank has been notified and will correct the error next month 3. Increase in balance per bank statement - no journal entry required 4. Decrease in balance per bank statement - no journal entry required Outstanding deposits. 5. No effect on the reconciliation - no...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other $18,500 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Balance $ 7,300 25, 800 6, 200 6,169 6, 169 $19, 600 $31 June 1 June Balance Deposits Cash (A) 7, 300 20,000 19,900 Checks written 7, 400 June June 30...
The September 30 bank statement for Bennett Company and the September ledger accounts for cash are summarized here: Deposits $26,700 BANK STATEMENT Checks Balance, September 1 Deposits recorded during September Checks cleared during September $27,000 NSF checks-Betty Brown Bank service charges 53 Balance, September 30 Balance $ 6,650 33, 350 6,350 6,240 6,187 6,187 110 Sept. 1 Balance Sept. Deposits Cash (A) 6,650 Sept. Checks written 29,050 29,650 No outstanding checks and no deposits in transit were carried over from...
QUESTION 45 1 points Save Answer Andy, Inc. was in the process of reconciling its bank balance with the company records and found an unadjusted book balance of $17,120, outstanding checks of $2,065, non-sufficient funds (NSF) checks of $508, deposits in transit of $1,650, bank service charges of $75, a customer note collected by the bank of $3,000 and interest on the note collected of $40. The adjusted book balance on the bank reconciliation should be? (Do not enter dollar...
Outstanding checks haven't been presented to the bank for payment but have been subtracted in the checkbook. have been subtracted on the bank records but not the checkbook records. have been returned to the business for nonpayment. haven't been presented to the bank for payment and haven't been subtracted from the checkbook. Question 2 (5 points) Using the following information, calculate the adjusted cash balance at the end of April. $2.000 Bank statement ending cash balance General ledger cash balance...
Proect Powerpons Google Sides Inbox mohamedyhassensgma.co Group Project Acct 202 Googie Dots Question 4 0.5 pts After completing a bank reconciliation, you are preparing journal entries to agree the firm's Cash account balance with the reconciled balance shown on the reconciliation. Which of the following requires a journal entry? Deposits in transit at the end of the period None of the above Outstanding checks at the end of the period An error by the bank in recording one of the...
Cornerstone Exercise 4-20 Bank Reconciliation Tiny Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement indicated the following: Balance, beginning of the month $15,640 Service charge for October Interest earned during October 80 NSF check from Green Corp. (deposited by Tiny) for goods 615 purchased on account Note ($2,500) and interest ($75) collected for Tiny from a 2,575 customer An analysis of canceled checks and deposits and the records of Tiny revealed the following items: Checking...
1. Which one which one of the following items would NOT be considered cash a. Coins b. Money orders e. Currency d. Postdated checks 2. A bank statement: a shows the activities that increased or decreased the depositor's account balance b. is a credit reference letter written by the depositor's bank. is a bill from the bank for services rendered. d lets a depositor know the financial position of the bank as of a certain date. 3. A NSF check...
Exercise 7-25 Novak Company has just received the August 31, 2017, bank statement, which is summarized below. Disbursements Receipts Balance County National Bank Balance, August 1 $15.215 Deposits during August $52,293 67,508 Note collected for depositor, including $65 interest 1,689 69,197 Checks cleared during August $56,028 13,169 Bank service charges 32 13,137 Balance, August 31 13,137 The general ledger Cash account contained the following entries for the month of August. Cash 16,321 Disbursements in August 56,840 Balance, August 1 56,694...
account - journal entry required 2 Bank service charge. 2. Decrease in the general ledger cash account - journal entry required The bank made an error Cheque#568 for $4800 was inadvertently processed as $8,400. The bank has been notified and will correct the error next month 3. Increase in balance per bank statement - no journal entry required 4. Decrease in balance per bank statement - no journal entry required Outstanding deposits. 5. No effect on the reconciliation - no...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other $18,500 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Balance $ 7,300 25, 800 6, 200 6,169 6, 169 $19, 600 $31 June 1 June Balance Deposits Cash (A) 7, 300 20,000 19,900 Checks written 7, 400 June June 30...
Most questions answered within 3 hours.
-
1- What is the freezing point of pure water (in degrees
Celsius)?
2-
he molar mass...
asked 36 minutes ago -
Determine the direction of the force that will act on the charge
in each of the...
asked 42 minutes ago -
You purchase your daily coffee at the Chemist’s Coffeehouse and
have a choice of two cups:...
asked 3 hours ago -
Which of the following pairs of chemicals could be used to make
a buffer solution?
A.)...
asked 3 hours ago -
Problem 16-51 Sales
Activity Variance (LO 16-3)Odessa, Inc., reports the following
information concerning operations for the...
asked 3 hours ago -
Pictured on the right are thee point charges Q1 = 18.4 μC, Q2 =
-30.6 μC,...
asked 3 hours ago -
A graduate student is conducting research in psychology and
needs to obtain the IQ scores of...
asked 4 hours ago -
R2.84: There are 2 defective products in a production lot of 10.
An inspector randomly selected...
asked 5 hours ago -
Consider the following equilibrium system: COCl2(g) CO(g) +
Cl2(g) A 10.00 L evacuated flask is filled...
asked 6 hours ago -
1) What are the two distinct steps that one needs to perform
when developing a data...
asked 6 hours ago -
2) Write a C++ program that uses a class called “Degree” to
obtain the trigonometric
values...
asked 7 hours ago -
1. In eukaryotic cells the genomes of
&
asked 7 hours ago